Financial and Banking News
Iranian Budget Projects 38% Increase In Spending
The Iranian budget for the year 1374, which will start on 21 March, projectsa 38% rise in expenditure. Total spending is set at IR96,100bn, which isequivalent to $54.9bn at the official exchange rate of $1=IR1,750 (although inrecent weeks the unofficial exchange rate has been ranging between 4,000 and4,500 to the dollar.) Inflation during the last year has been around 25-30%....